Helping Hong Kong and mainland companies identify new markets with clear growth potential and huge investment opportunities has been a priority of the Hong Kong Trade Development Council (HKTDC). Two outreach activities were recently organised to explore business opportunities along the Belt and Road and reinforce Hong Kong’s role as a two-way investment and business hub of Asia.
The Mainland-Hong Kong Joint Investment and Partnership Mission to Spain, Serbia and UAE visited China Machinery Engineering Corporation’s power plant project in Kostolac on 13 June
Mainland-Hong Kong Joint Investment and Partnership Mission to Spain, Serbia and UAE, 9-18 June 2019
Last month, the Commerce and Economic Development Bureau of the Hong Kong Special Administrative Region (HKSAR) and the Ministry of Commerce of the People's Republic of China organised an investment and partnership mission to Spain, Serbia and UAE to help Hong Kong and mainland businesses explore market opportunities and promote Hong Kong as a commercial hub for Belt and Road opportunities.
The mission, also co-organised by the HKTDC and China International Contractors Association (CHINCA), comprised some 70 investors and services professionals from Mainland China and Hong Kong. Delegates included those with an interest and expertise in the areas of finance, consultancy, architecture, energy, civil engineering and construction, legal and accounting, transportation and logistics, and various other sectors.
Besides a series of business matching events and project presentation organised with local companies and government representatives, the delegation visited corporates, infrastructure and latest development projects in the three countries, including Madrid-based global environmental management and services provider Urbaser S.A.U, project of Surcin-Obrenovac section of E763 highway by China Road and Bridge Corporation in Serbia, Dubai’s business hub at the Jebel Ali Free Zone, as well as the site of Expo 2020 Dubai.
During the mission, HKSAR and the United Arab Emirates signed an Investment Promotion and Protection Agreement (IPPA), marking a milestone of economic cooperation between the two places.
HKTDC Assistant Executive Director Stephen Liang highlighted Hong Kong’s role as the bridge connecting Mainland China with Belt and Road economies and said: “Hong Kong is a provider of quality services to underpin Belt and Road-related developments. These include the financing of infrastructure and construction projects, and the provision of a range of professional services − including due diligence, accounting and insurance, project management, risk management and dispute resolution.”
Hong Kong Business and Professional Delegation to Georgia and Hungary, 18-23 March 2019
In March 2019, the HKTDC and the Commerce and Economic Development Bureau of the HKSAR Government jointly organised a business mission to Georgia and Hungary to explore and capitalise on the opportunities in these two countries arising from the Belt and Road Initiative.
The delegation was led by Edward Yau Tang-wah, the Secretary for Commerce and Economic Development of the HKSAR Government, and comprising more than 30 professionals from various sectors including accounting, insurance, infrastructure and real estate development, legal services, transport and logistics, technology, and start-ups. The mission was also joined by a Guangdong trade delegation led by Li Yongyi, Deputy Director General of the Department of Commerce of Guangdong Province. This was also the second HKTDC mission to visit Georgia, since Hong Kong and Georgia signed a Free Trade Agreement (FTA) at the Belt and Road Summit held in Hong Kong last year.
Alongside networking with local government agencies and project owners, site visits to local development projects were also arranged to help Hong Kong businesses keep abreast of the latest development and investment environments in the two countries. These included the Poti Free Industrial Zone Headquarters located at the largest sea port in Georgia, where the area is notable for its tax-free environment and easy business setup process, as well as the plant of Hong Kong-based Johnson Electric Hungary Kft in Budapest – one of the world's largest automotive component suppliers and one of the largest Hong Kong investors in Hungary.
Mission leader Edward Yau Tang-wah said he believes with the city’s global outlook and international connectivity, Hong Kong enterprises and professionals play an indispensable role in making Hong Kong the prime platform for enterprises in both countries to participate in the Belt and Road Initiative.
The HKTDC will continue to strengthen its efforts in fostering collaboration with members around the world to maximise the opportunities arising from the Belt and Road Initiative.
